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ANCHOR GROUP LIMITED - Termination of Contego Share Sale Agreement

Release Date: 26/03/2015 09:08
Code(s): ACG     PDF:  
Wrap Text
Termination of Contego Share Sale Agreement

ANCHOR GROUP LIMITED
(formerly Andotorque Investments Proprietary Limited)
(Incorporated in the Republic of South Africa)
(Registration number 2009/005413/06) (“Anchor” or “the Company”)
ISIN Code: ZAE000193389 JSE Code: ACG

TERMINATION OF CONTEGO SHARE SALE AGREEMENT

As a result of material non-disclosures in terms of the Contego Share Sale
Agreement, the Board of Directors of Anchor Group have resolved to terminate the
agreement to purchase Contego Holdings (Pty) Ltd.

Despite the Board’s confidence in Contego Asset Management and the funds they
manage, the Board will continue to take a firm stance where contracting parties fail
to make material disclosures in acquisitions of this nature.

We also confirm that Anchor Capital is resigning as fund managers of three of the
Clarus-branded CIS schemes which it manages on an outsourced basis. The
performance of these funds has been excellent since Anchor Capital was
contracted to manage them.

We wish to re-iterate that aside from providing asset management services to Clarus
Asset Management (they were a client of Anchor Capital), Anchor Group (or any
staff member of Anchor Group) has never been in business with Mr Cobus Kellerman.

The Anchor Group Board places great emphasis on reputation and the trust
associated with our brand and will always maintain strict integrity ahead of potential
shorter term financial gains.


Johannesburg
26 March 2015

Designated Advisor
Arbor Capital Sponsors Proprietary Limited

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